Journey Medical Corporation (NASDAQ:DERM) Given Consensus Recommendation of “Hold” by Brokerages

Journey Medical Corporation (NASDAQ:DERM) has been assigned a consensus rating of “Hold” from the five analysts that are covering the stock, Marketbeat reports. One equities research analyst has rated the stock with a sell recommendation, one has issued a hold recommendation and three have assigned a buy recommendation to the company. The average 1-year target price among brokerages that have updated their coverage on the stock in the last year is $12.1667.

DERM has been the topic of a number of recent research reports. Zacks Research upgraded shares of Journey Medical from a “strong sell” rating to a “hold” rating in a research note on Monday, October 13th. Weiss Ratings reissued a “sell (d-)” rating on shares of Journey Medical in a research report on Wednesday, October 8th.

Journey Medical Trading Up 9.0%

NASDAQ:DERM opened at $8.73 on Friday. Journey Medical has a 12-month low of $3.54 and a 12-month high of $9.40. The firm has a market cap of $236.93 million, a PE ratio of -24.94 and a beta of 0.81. The company has a current ratio of 1.42, a quick ratio of 1.12 and a debt-to-equity ratio of 0.75. The stock has a fifty day moving average price of $7.81 and a 200 day moving average price of $7.58.

Journey Medical (NASDAQ:DERM) last issued its quarterly earnings results on Wednesday, November 12th. The company reported ($0.09) earnings per share for the quarter, missing the consensus estimate of ($0.08) by ($0.01). The company had revenue of $17.63 million for the quarter, compared to analysts’ expectations of $18.85 million. Journey Medical had a negative return on equity of 39.94% and a negative net margin of 14.58%. Sell-side analysts anticipate that Journey Medical will post -1.02 earnings per share for the current fiscal year.

Institutional Trading of Journey Medical

A number of hedge funds and other institutional investors have recently bought and sold shares of DERM. Wasatch Advisors LP lifted its holdings in Journey Medical by 13.4% during the 3rd quarter. Wasatch Advisors LP now owns 1,306,272 shares of the company’s stock worth $9,301,000 after buying an additional 154,213 shares during the last quarter. Vanguard Group Inc. raised its position in shares of Journey Medical by 8.9% during the 3rd quarter. Vanguard Group Inc. now owns 615,229 shares of the company’s stock worth $4,380,000 after acquiring an additional 50,241 shares in the last quarter. Essex Investment Management Co. LLC raised its position in shares of Journey Medical by 55.1% during the 3rd quarter. Essex Investment Management Co. LLC now owns 354,021 shares of the company’s stock worth $2,521,000 after acquiring an additional 125,818 shares in the last quarter. Geode Capital Management LLC lifted its stake in Journey Medical by 130.7% during the second quarter. Geode Capital Management LLC now owns 262,353 shares of the company’s stock worth $1,884,000 after purchasing an additional 148,612 shares during the last quarter. Finally, Sheets Smith Investment Management acquired a new position in Journey Medical in the third quarter valued at approximately $946,000. 7.25% of the stock is currently owned by institutional investors and hedge funds.

Journey Medical Company Profile

Journey Medical Corp, headquartered in Fairfield, New Jersey, is a commercial dermatology company focused on acquiring, developing and marketing prescription dermatology products in the United States. Since its incorporation in 2019, the company has built a portfolio of both branded and generic topical therapies designed to address a range of skin conditions, including acne, atopic dermatitis, fungal infections and inflammatory lesions.

The company’s product lineup features antibiotic/anti-inflammatory combinations and corticosteroid-based formulations delivered through proprietary gel, cream and foam vehicles.